A&D Weekly News & Transactions - Week 7

Industry Headline News

India Approves $39 Billion Purchase of 114 Dassault Rafale Fighter Jets
Feb. 12, 2026 - India’s Defence Acquisition Council, led by Defence Minister Rajnath Singh, backed the multibillion-dollar approval to buy 114 Rafale fighter jets from France’s Dassault Aviation as part of its plan to modernize the Indian Air Force andboost operational readiness. The deal, valued at about $39 billion and cleared ahead of French President Emmanuel Macron’s visit, includes an “Acceptance of Necessity” for the multi-role fighters, with the majority to be manufactured inIndia under the programme. The purchase aims to enhance India’s air dominance amid regional security challenges while expanding domestic defence production and strengthening Indo-French strategic ties. (AeroTime)

Northrop Grumman, Polish Firm to Build 180,000+ 155 mm Artillery Shells Annually in Poland
Feb. 11, 2026 - U.S. defence contractor Northrop Grumman and Polish arms manufacturer Niewiadow-PGM signed a framework agreement to jointly produce more than 180,000 155 mm artillery shells per year in Poland, with qualification rounds slated to begin later this year and full commercial output targeting the U.S., Poland and broader European markets. The collaboration will leverage Northrop’s Austempered Ductile Iron technology to scale production efficiently, amid high demand due to Ukraine’s conflict with Russia and NATO ammunition needs, and reflects Poland’s growing defence industrial role as it spends an anticipated 4.8 % of GDP on defence. Northrop is also in advanced talks with state-controlled Mesko on co-producing 30 mm and 120 mm ammunition, reinforcing its expanded European footprint. (Reuters)

Air Canada Orders Eight Airbus A350-1000s with Rights to Eight More as Part of Long-Haul Fleet Modernization
Feb. 11, 2026 - Air Canada has placed a firm order for eight Airbus A350-1000 widebody aircraft and secured purchase rights for eight additional jets, with deliveries slated to begin in the second half of 2030 under its next-generation cabin standard as it modernizes its long-haul fleet. The Montreal-based carrier highlights this as its first firm widebody Airbus order since 1997 and says the A350-1000s will complement incoming Airbus A321XLRs and Boeing 787-10s along with existing A220-300 and 737 MAX 8 commitments. Powered by Rolls-Royce Trent XWB97 engines for improved fuel efficiency and roughly 9,000 nm range, the aircraft are expected to expand Air Canada’s global network and enhance long-haul capabilities through the next decade. (Airways Magazine)

BAE Systems to Acquire Swedish Precision-Machining Firm Aston Harald Mekaniska Verkstad
Feb. 9, 2026 - BAE Systems Bofors has signed a share purchase agreement to acquire Sweden-based precision machining specialist Aston Harald Mekaniska Verkstad AB, a Kristinehamn-headquartered company employing about 100 people that supplies large complex structures for aerospace, defence and commercial markets. The deal is aimed at expanding BAE’s European manufacturing capacity and strengthening the supply chain for key systems including the ARCHER artillery, TRIDON and naval 40 Mk4 and 57 Mk3 guns, with completion expected in the first half of 2026 subject to regulatory approvals. Both companies cite shared Swedish heritage and operational alignment as reasons the acquisition will enhance delivery capabilities for customers in Sweden, NATO allied nations and commercial sectors across Europe. (BAE Systems)

Weekly Transaction Review

No.	Parties Involved	Transaction Metrics			Location	Segment
	Target [Parent] Acquirer [Parent]	Price ($M)	Price/ Revenue	Price/ EBITDA	Target	Target
1	Velocity Maintenance Solutions Bombardier	-	-	-	New Castle, DE	MRO & Logistics
2	Plasma Ruggedized Solutions Novaria Group [Arcline]	-	-	-	San Jose, CA	Machined & Cast Parts
3	R&S Machining Threadlock Precision [D.E. Shaw]	-	-	-	St. Louis, MO	Machined & Cast Parts
4	Aston Harald Mekaniska Verkstad BAE Systems	-	-	-	Kristinehamn, Sweden	Machined & Cast Parts
5	Dignitas Technologies By Light Professional IT Services [Sagewind Capital]	-	-	-	Orlando, FL	Simulation & Training Systems
6	Wescom Group [Sun Capital] Ignium [Albion River]	-	-	-	Draycom, United Kingdom	Navy/Maritime
7	Maytag Aircraft [SATS] Ignium [Albion River]	-	-	-	Colorado Springs, CO	MRO & Logistics
8	Sawyer Composite Touchstone Advanced Composite	-	-	-	Fort Worth, TX	Composites
9	Electrocube AMCA	-	-	-	Pomona, CA	Components & Subsystems
10	Advanced Precision Machining Pro-Dex	-	-	-	Costa Mesa, CA	Machined & Cast Parts
11	Nomad GCS Kratos	$110.0	-	-	Kalispell, MT	Sensors & C4ISR
12	Brunner Manufacturing Howmet Aerospace	-	-	-	Mauston, WI	Machined & Cast Parts
13	Frontline SK AeroSafety [Bridgepoint]	-	-	-	Sesto Calende, Italy	MRO & Logistics
14	Kadex Aero Supply Chrous Aviation	-	-	-	Peterborough, Canada	Distribution
15	Syntony Safran	-	-	-	Toulouse, France	Defense Electronics

No.	Target Descriptions
1	VMS is a provider of MRO and NDT services for private sector and U.S. federal government aviation markets. The company specializes in services for Bombardier, Embraer, Dassault, Falcon, Gulfstream, and Textronaircraft. Velocity is an FAA certified repair station.
2	PRS is a provider of high-quality parylene coating, proprietary plasma technologies, potting and encapsulation, and full-service manufacturing solutions for private sector and U.S. federal government markets. PRS is certified to AS9100, RoHS, and ITAR standards.
3	R&S Machining manufactures precision machined components for aerospace, defense, and industrial applications requiring tight tolerances and complex geometries. The company supports low-to-mid volume production through advanced CNC machining, inspection, and quality-driven manufacturing processes.
4	Aston Harald Mekaniska Verkstad manufactures precision machined components and advanced propulsion systems serving marine, aerospace, and industrial customers. The company combines engineering, machining, and assembly capabilities to support complex mechanical systems and high-performance applications.
5	Dignitas is a provider of modeling, simulation, & training (MS&T) services and solutions for private sector and U.S. federal government defense markets. The company specializes in system and software analysis, design, development, testing, and fielding of MS&T and mission rehearsal applications.
6	Wescom is a supplier of marine distress signals. The company's products include handflares, manoverboard buoys, line-throwers and other required rescue products under established brands including Pains Wessex, Comet, Aurora and Oroquieta.
7	Maytag is a provider of operations and maintenance services for private sector, international, and U.S. federal government aerospace and defense markets. The company's services range from aircraft refueling and air terminal and ground handling to base operating support and weather observation and forecasting at multiple international and domestic locations.
8	Sawyer Composite manufactures advanced composite components and assemblies for aerospace and defense applications requiring lightweight, high-strength materials. The company supports production and prototype programs through composite layup, curing, machining, and quality systems aligned with stringent industry standards.
9	Electrocube is a designer and manufacturer of passive and power electronic components and assemblies for private sector and U.S. federal government aerospace markets. The company is a key supplier of transformers for Boeing aircraft on nearly every one of its commercial platforms.
10	Advanced Precision Machining manufactures tight-tolerance machined components and assemblies for aerospace and defense applications using advanced CNC technologies. The company supports complex programs with multi-axis machining, inspection, and repeatable production aligned with stringent quality requirements.
11	Nomad GCS develops mobile ground control stations and mission support systems for unmanned aircraft and defense applications. The company provides ruggedized command, control, and communications solutions designed for rapid deployment and field operations.
12	Brunner Manufacturing produces precision machined components and assemblies for aerospace, defense, and industrial customers requiring tight tolerances and consistent quality. The company supports production programs through CNC machining, inspection, and disciplined manufacturing processes.
13	Frontline provides maintenance, repair, overhaul, and distribution services for aircraft electrical power and safety components including starter generators, lighting, cargo hooks, and oxygen systems. The company supports helicopter and fixed wing operators with certified repair, overhaul, exchange, and inventory services aligned with global aviation regulatory approvals.
14	Kadex Aero Supply distributes aerospace fasteners, hardware, and specialty components supporting OEM and aftermarket aviation customers. The company focuses on sourcing, inventory management, and quality assurance aligned with aerospace certification requirements.
15	Syntony designs and manufactures satellite navigation and positioning hardware and software using signal simulation and alternative positioning technologies. The company provides resilient navigation solutions, including GNSS simulators and RF systems, supporting aerospace, defense, and critical infrastructure operations in contested and GNSS-denied environments.